Posts

sam

061: Sam Walton’s 10 Rules for Building a Business

sam

The perfect ending to a wonderful book. Sam Walton shares his 10 Rules for Building a Business. How do you stack up?

Rule 1: COMMIT to your business. Believe in it more than anybody else.

Rule 2: SHARE your profits with all your associates, and treat them as partners. In turn, they will treat you as a partner.

Rule 3: MOTIVATE your partners. Money and ownership alone aren’t enough.

Rule 4: COMMUNICATE everything you possibly can to your partners. The more they know, the more they’ll understand. The more they understand, the more they’ll care.

Rule 5: APPRECIATE everything your associates do for the business.

Rule 6: CELEBRATE your successes. Find some humor in your failures. Don’t take yourself so seriously.

Rule 7: LISTEN to everyone in your company. And figure out ways to get them talking.

Rule 8: EXCEED your customers’ expectations. If you do, they’ll come back over and over. Give them what they want – and a little more.

Rule 9: CONTROL your expenses better than your competition.

Rule 10: SWIM upstream. Go the other way. Ignore the conventional wisdom.

In today’s episode, go through his 10 rules and share some insights of my own. Enjoy!

sam-walton

059: Sam Walton’s Lessons to Get More Out of Your Team

sam-walton

Sam Walton was a master of growth and getting extraordinary results from his employees, or associates, as he liked to call them. He boiled it down to 3 basic principles which we talk about in the show today:

1 Keep Your Ear to the Ground

“A computer is not – and will never be – a substitute for getting out in your stores and learning what’s going on. In other words, a computer can tell you down to the dime what you’ve sold. But it can never tell you how much you could have sold.”

2 Push Responsibility – And Authority – Down

“The bigger we get as a company, the more important it becomes for us to shift responsibility and authority toward the front lines, toward that department manager who’s stocking the shelves and talking to the customer.”

3 Force Ideas to Bubble Up

“We’re always looking for new ways to encourage our associates out in the stores to push their ideas up through the system. We do a lot of this at Saturday morning meetings. We’ll invite associates who have thought up something that’s really worked well for their store – a particular item or a particular display – to come share those ideas with us.”

Great lessons. I don’t know about you, but I am going to begin to implement these ideas to a higher level immediately.

Enjoy the episode!

Phil Knight

052: The Man Who Built a Shoe Empire

1461688411_f816729507b3163b14e1048922f61c93

Very few people in history have built such an iconic brand as Phil Knight has done with NIKE. Billions of people around the world know about Nike and what Nike represents.

In his autobiography, Shoe Dog, you get a glimpse into the mind of a business legend – a man who built himself from nothing to one of the richest men in the world.

The book was incredible and the lessons learned even better. Today I share a few of those lessons with you.